Correlation Between BGF Global and Groupama Entreprises
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By analyzing existing cross correlation between BGF Global Allocation and Groupama Entreprises N, you can compare the effects of market volatilities on BGF Global and Groupama Entreprises and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in BGF Global with a short position of Groupama Entreprises. Check out your portfolio center. Please also check ongoing floating volatility patterns of BGF Global and Groupama Entreprises.
Diversification Opportunities for BGF Global and Groupama Entreprises
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between BGF and Groupama is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding BGF Global Allocation and Groupama Entreprises N in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Groupama Entreprises and BGF Global is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on BGF Global Allocation are associated (or correlated) with Groupama Entreprises. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Groupama Entreprises has no effect on the direction of BGF Global i.e., BGF Global and Groupama Entreprises go up and down completely randomly.
Pair Corralation between BGF Global and Groupama Entreprises
Assuming the 90 days trading horizon BGF Global Allocation is expected to generate 63.08 times more return on investment than Groupama Entreprises. However, BGF Global is 63.08 times more volatile than Groupama Entreprises N. It trades about 0.12 of its potential returns per unit of risk. Groupama Entreprises N is currently generating about 1.01 per unit of risk. If you would invest 7,172 in BGF Global Allocation on September 2, 2024 and sell it today you would earn a total of 423.00 from holding BGF Global Allocation or generate 5.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 96.92% |
| Values | Daily Returns |
BGF Global Allocation vs. Groupama Entreprises N
Performance |
| Timeline |
| BGF Global Allocation |
| Groupama Entreprises |
BGF Global and Groupama Entreprises Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BGF Global and Groupama Entreprises
The main advantage of trading using opposite BGF Global and Groupama Entreprises positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BGF Global position performs unexpectedly, Groupama Entreprises can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Groupama Entreprises will offset losses from the drop in Groupama Entreprises' long position.| BGF Global vs. Groupama Entreprises N | BGF Global vs. Renaissance Europe C | BGF Global vs. Superior Plus Corp | BGF Global vs. Origin Agritech |
| Groupama Entreprises vs. Esfera Robotics R | Groupama Entreprises vs. R co Valor F | Groupama Entreprises vs. CM AM Monplus NE | Groupama Entreprises vs. IE00B0H4TS55 |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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